The Dallas area is getting high marks from another national housing forecast firm.

Dallas ranks among the top metro areas based on expected home price performance this year, according to Local Market Monitor, a North Carolina housing sector consultant.

"Home values for the Dallas-Plano-Irving Metropolitan Statistical Area are forecast to remain constant over the next 12 months," Local Market Monitor spokeswoman Lauren Brown said. "This is compared to a 6.6 percent forecast decrease in home prices nationally."

Fort Worth, Houston, McAllen and San Antonio were also on the list of markets with "the best expected performance in home price," according to the report released Tuesday.

"These are markets that did not have a large boost in home prices over the last few years and therefore, even though the economy is doing poorly, no adjustment in prices has been necessary," housing economist Ingo Winzer said in the report.

Actually, home prices are down more than 15 percent in the Dallas-Fort Worth area during the last two years based on sales of pre-owned homes through the Multiple Listing Service.

But that's still one of the smallest home price declines among major U.S. metropolitan areas.

The National Association of Realtors reported Tuesday that nationwide median home prices in May were down almost 17 percent from a year earlier.
And in 2008, nationwide prices fell more than 15 percent, according to the real estate trade association.

Source: DallasNews.com

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In a recent report, Forbes magazine named the top 10 cities in the US that are expected to make a swift economic revoery, as well as the 10 that are likely to have a long road head.

According to the magazine, Austin, San Antonio, Dallas and McAllen are likely to make an economic comeback in the months ahead.

According to the report, "these areas did not see the massive real estate bubble that formed in states like California, Nevada and Florida. The economy is diverse, with heavy growth coming from education and health care in recent years."

Source: Forbes.com

Five of the nation's top 10 metropolitan areas are in Texas, according to the Brookings Institution, which tracks factors like employment, wages, home prices, and foreclosure to determine the health of the nation's 100 largest metros. Texas cities in the national top 10: San Antonio, Houston, Austin, Dallas, and McAllen.

Source: Brookings MetroMonitor report

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Ready for some changes to your present home or want to improve the value of a rental property? If so, you're not alone. According to a recent survey conducted by Lowe's Home Improvement stores, the home improvement industry is booming. Homeowners spent an average of more than $3,700 on home improvement projects in the past year.

It probably won't come as a surprise to most people, but the Lowe's report found that 81 percent of homeowners consider their home to be a better long-term investment than the stock market.

Your Texas Realtor can also be a great resource when considering remodeling projects – whether it's directing you to the perfect fixer-upper house when you're buying, or offering advice and information once you're in the house. Some people even consult with their Realtor on what improvements they should make to help sell their homes later – a great idea, since your Realtor is an expert at re-sale features.

Source: Texas Association of Realtors

1. Protect your credit score.

2. Beware of offers that sound too good to be true – they probably are.

3. Become an educated consumer. Talk to your Texas Realtor about predatory lending practices – what they mean and how to keep from being a victim.

4. Don't buy more house than you can afford right now.

5. Think twice about non-traditional loans, such as interest-only and adjustable-rate mortgages (ARMs). Fixed-rate mortgages are just that – fixed.

6. When purchasing a new home, look beyond the monthly mortgage. Other costs to consider include property taxes, homeowner's insurance, utilities, maintenance, and, depending on the neighborhood, homeowners' association fees.

7. Don't sign a blank document or anything you don't understand.

8. Know and understand the terms of your mortgage.

9. Don't let anyone persuade you to "pad" your income to qualify for a loan.

10. If you're having trouble making your monthly mortgage payment, don't hide from your lender. Work with your mortgage lender to find out what your options are.

11. Work with your Texas Realtor to find a reputable lender and a loan product that works for you.

12. Call the foreclosure prevention hotline, 888/995-HOPE (4673), or visit www.995HOPE.org. Sponsored by the non-profit Homeownership Preservation Foundation, these consumer services are free.

Source: Texas Association of Realtors

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